World's outsourcing surge above $300 Billion
According to Vincent Altez, Senior Analyst at XMG, India will account for 44.8 percent of the global market, while China will hold 25.9 percent. China seconds the list and generated revenue worth $28 billion. XMG named the Philippines as the third-best performing destination, growing at an estimated 21.7 percent to register $7.3 billion in revenues by year-end. India's market share is expected to remain similar due to accounting adjustments following Satyam's financial scandal and demand moving to other offshore countries.
Altez says that global market's overall growth will slide from last year's 19 percent but the 14.4 percent growth is seen as positive due to recession. According to XMG, several factors will impact the industry's market value and "dynamics of global sourcing" in 2010. These factors include the economic recovery of Europe and the United States, which will create business process outsourcing (BPO) demand over IT services, as well as the continuing agility and commitment of governments in China and Vietnam to attract foreign investors and improve infrastructures.
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